1. Field of the Invention
This invention is related to analysis of data related to a plurality of individuals in order to categorize the individuals. More particularly, the invention is related to analysis of financial and demographic information of individuals in order to categorize the individuals, assign risks for future delinquencies to the individuals, and return reasons for assignment of a particular risk to an individual.
2. Description of the Related Art
Lending institutions provide credit accounts such as mortgages, automobile loans, credit card accounts, and the like, to consumers. Prior to providing an account to an application, or applicants, however, many of these institutions review credit related data and demographic data associated with the applicant in order to determine a risk of the applicant defaulting on the account or filing for bankruptcy, for example. Such credit and demographic data may be used to categorized, or segment, individuals into one of a plurality of segments where each segment is associated with other individuals that each have certain similar attributes. Scoring models that may be particular to the assigned segment may then be applied to the individual in order to determine a risk score that is used by the lending institution to assess a risk level associated with the applicant.